Prime News Kenya

Current Business News in Kenya: Banking | Economics

Rotich scraps generous relief in housing levy

The Treasury is seeking to scrap a guideline that handed immunity to high-income earners in the housing levy, limiting the monthly relief to 15 percent of the actual contribution.

KRA to miss revenue target

The Kenya Revenue Authority, KRA is likely to miss revenue collection targets by a wider margin this year, further jeopardizing the government’s fiscal plan.

Vivo set to take 50pc stake in KFC franchise

Oil marketer Vivo Energy, which trades under the Shell brand name, is set to take a 50 percent stake in KFC in East Africa, in a deal with the owners of the fast food franchise Kuku Foods East Africa Holdings.

US announces travel ban to assist Kenya in war against graft

Corrupt individuals have been banned from visiting the United States or investing their money there as the effects of a mutual assistance framework being sought by Kenyan investigative agencies with international partners in order to fight graft begins to bite.

Kenyan manufacturer calls for tax-cuts

Manufacturing is one of President Uhuru Kenyatta Big Four Agenda but the imposition of excise duty on Kenyan products in other East African countries goes against the common external tariffs which make it costly to operate.

Local manufacturers have on several occasions called for tax-cuts to ensure a level-playing ground with other companies in other Eastern African countries.